Enterprise -> Finance
Released: 6th December 2012
Publisher: Origin Comms
San Jose, Calif., December 5, 2012 - CipherCloud, the leader in cloud information protection, today announced that it has secured $30 million in funding from Andreessen Horowitz. CipherCloud’s existing investors include Andreessen Horowitz, Index Ventures and T-Venture, the venture capital arm of Deutsche Telekom. The company plans to use the new funding to accelerate its global go-to-market strategy with expanded sales and marketing, to further develop its cloud information protection offerings and to advance its technology leadership. John M. Jack, board partner at Andreessen Horowitz and former CEO of Fortify Software, will join the company’s board of directors.
CipherCloud is at an advanced stage of market success, technology maturity and operations for a company taking its first significant venture funding investment. Since its founding in 2010, the company has rapidly grown its customer base, protecting 1.2 million cloud application users and 100 million customer records for more than 40 enterprise clients across eight countries. Customers include top firms in banking, insurance, healthcare and technology, as well as government agencies.
“Security is the number one inhibitor preventing organizations from adopting cloud applications, and CipherCloud has solved this huge problem in a very elegant way,” said John M. Jack. “CipherCloud is moving up one of the fastest enterprise adoption curves I have ever seen. The combination of technology, team and market opportunity makes this a compelling investment.” (Read more on John’s blog post: Why Didn't I Do This?)
The company’s cloud encryption and tokenization gateways empower enterprises to securely adopt cloud applications by eliminating concerns about data privacy, residency, security and regulatory compliance. The groundbreaking technology secures sensitive information in real time, before it's sent to the cloud, with no impact to usability or performance, or change to the cloud application.
The CipherCloud product portfolio supports popular cloud applications including Salesforce, Force.com, Chatter, Google Gmail, Microsoft Office 365, and Amazon AWS. Additionally, customers can extend data protection to hundreds of third-party cloud and private cloud applications and databases with CipherCloud Connect AnyApp and CipherCloud Database Gateway.
A security visionary, CipherCloud Founder and CEO Pravin Kothari was previously co-founder and vice president of engineering at ArcSight, which was acquired by HP for more than $1.5 billion. He leads a management team of successful enterprise software executives from tech giants HP, SAP, Sun Microsystems and Microsoft, all of whom are experienced at bringing game-changing cloud solutions to the enterprise market and driving rapid revenue growth.
"When I founded CipherCloud it was clear to me that the entire enterprise market was accelerating its move to the cloud," said Pravin Kothari. "Our vision has been to create solutions that enable organizations to safely and securely complete their cloud journey while maintaining a high level of security and retaining control of their information.”
Gartner Inc.’s latest forecast confirms the tremendous opportunity ahead of CipherCloud. Analysts estimate the cloud market will double by 2016 to $206 billion and that 25 percent of enterprises will use a cloud information protection technology like CipherCloud’s.
For more information please visit www.ciphercloud.com.
Additional CipherCloud Resources
CipherCloud, the leader in cloud information protection, provides cloud encryption and tokenization gateways to enable organizations to securely adopt cloud applications by eliminating concerns about data privacy, residency, security, and regulatory compliance. CipherCloud’s groundbreaking gateway encrypts sensitive information in real time, before it's sent to the cloud, using operations-preserving encryption and tokenization technology without impacting usability or the application in any way.
The CipherCloud product portfolio supports popular cloud applications out-of-the-box such as Salesforce, Force.com, Chatter, Google Gmail, Microsoft Office 365, and Amazon AWS. Additionally, CipherCloud Connect AnyApp and Database Gateway enable organizations to extend data protection to hundreds of third-party cloud and private cloud applications and databases.
Recognized by Gartner as a Cool Vendor in Cloud Security, CipherCloud is backed by premier venture capital firms including Andreessen Horowitz, Index Ventures, and T-Venture, the venture capital arm of Deutsche Telekom. For more information, visit www.ciphercloud.com and follow us on Twitter @ciphercloud.
About Andreessen Horowitz
Andreessen Horowitz is a venture capital firm that provides seed, venture and growth-stage funding to the best new technology companies. Founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz helps entrepreneurs become successful CEOs and build important and enduring companies. Its investing partners are Marc Andreessen, Ben Horowitz, John O'Farrell, Scott Weiss, Jeff Jordan, Peter Levine and Chris Dixon, all widely recognized experts in the creation, scaling and operation of high growth technology companies. The firm has $2.7 billion under management across three funds. Among its 170 investments are Airbnb, Apptio, Box, Fab, Facebook, Foursquare, GitHub, Jawbone, Lytro, Pinterest, Quirky and Twitter. The firm was established in June 2009 and is located in Menlo Park, California. www.a16z.com
Published by: IT Analysis Communications Ltd.
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